The Swiss Aren’t Overtaking Us, It’s U.S. That’s Falling Behind

By September 9, 2009Economy, General, Taxation

From Financial Times, “US drops down competitiveness league table“:

The US government’s sweeping intervention in the private sector has taken its toll on the country’s competitiveness, according to an annual survey by the World Economic Forum.

The country lost its number one spot to Switzerland in the WEF report on global competitiveness, partly because of “particular concerns on the part of the business community about the government’s ability to maintain arm’s-length relationships with the private sector and in the perception that the government spends its resources wastefully”.

Here is the World Economic Forum’s news release, with links to the full report.

This chart is of particular interest, stacking the major “problematic factors” — think that means “problems” — for doing business. Note the prominence of tax issues.

Access to financing………………………………………………19.0
Tax rates ……………………………………………………………….14.1
Tax regulations ……………………………………………………..12.8
Inefficient government bureaucracy…………………….12.0
Inflation …………………………………………………………………..7.9
Poor work ethic in national labor force ………………….7.0
Inadequately educated workforce………………………….5.6
Policy instability………………………………………………………4.3
Restrictive labor regulations…………………………………..3.9
Inadequate supply of infrastructure ……………………….3.5
Corruption……………………………………………………………….2.7
Crime and theft ……………………………………………………….2.3
Poor public health…………………………………………………..2.2
Foreign currency regulations………………………………….1.4
Government instability/coups …………………………………1.1

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